Today, we are proud to partner with the Aspen Institute for the fourth straight year to present the Aspen Institute Symposium on The State of Race In America. The conference will explore new attitudes, opportunities, and challenges for and about race in 21st century America. An exciting array of panelists and moderators, including Philadelphia Mayor Michael Nutter, author Tanner Colby, and MSNBC’s Richard Lui will lead discussions on a wide range of issues related to race in America today. You can watch the conference here.
Over the past four years, the Symposium on The State of Race in America has provided a critical opportunity to examine the issue of race in America. This year is particularly special as we also commemorate an impressive series of anniversaries in civil rights history, including last August’s 50th Anniversary of Dr. King’s March on Washington for Jobs and Freedom, the 50th Anniversaries of the Civil Rights Act of 1964 and LBJ’s declaration of the War on Poverty, and finally the 60th Anniversary of Brown vs. Board of Education.
Historic milestones such as these remind us to think about how far we’ve come as a country, where we still need to go, and how we’re going to get there. We think that one of the critical civil rights issues of the 21st century is closing the digital divide. As Congressman and Civil Rights Leader, John Lewis, said, "education and the use of broadband to end the digital divide is a must. It’s a great equalizer. To continue education, it is a must."
Here at Comcast, addressing the digital divide head-on has long been a priority for our company. About 30 percent of Americans, many of whom are living below the poverty line, remain on the wrong side of the digital divide. And while digital access and digital literacy aren’t strictly issues of race, they disproportionately affect people of color. According to data from the Pew Research Center, while 74 percent of white Americans have a home broadband connection, only 62 percent of African Americans and 56 percent of Hispanic Americans have adopted broadband at home.
Without access to broadband at home, full participation in nearly every aspect of American society–from economic success, educational achievement and health care benefits, to access to government services and social networks – is compromised. The resulting achievement gap in schools, at work, and in life, is an issue of fundamental fairness and equal opportunity.
To address the growing broadband adoption gap, Comcast launched Internet Essentials in 2011. Internet Essentials is the nation’s largest and most comprehensive broadband adoption program for low-income families. Internet Essentials provides eligible low-income families with low-cost Internet broadband service for $9.95 a month; the option to purchase a full-service, Internet ready computer for less than $150; and a suite of free digital literacy training. We are proud to report that Internet Essentials has now reached more than 1.2 million Americans, or more than 300,000 families—more than half of whom are Hispanic, and nearly 80 percent of whom are people of color. Through the Time Warner Cable transaction, Comcast will bring the transformative power of the Internet at home to millions of families from New York to Los Angeles. Our progress is encouraging, but our work is far from finished, and we are proud to have announced the enhancement and indefinite extension of Internet Essentials as part of our commitment to close the digital divide.
Important Information For Investors And Shareholders
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the proposed transaction between Comcast Corporation ("Comcast") and Time Warner Cable Inc. ("Time Warner Cable"), on March 20, 2014, Comcast filed with the Securities and Exchange Commission (the "SEC") a registration statement on Form S-4 containing a preliminary joint proxy statement of Comcast and Time Warner Cable that also constitutes a preliminary prospectus of Comcast. The registration statement has not yet become effective. After the registration statement is declared effective by the SEC, a definitive joint proxy statement/prospectus will be mailed to shareholders of Comcast and Time Warner Cable. INVESTORS AND SECURITY HOLDERS OF COMCAST AND TIME WARNER CABLE ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain free copies of the registration statement and the joint proxy statement/prospectus and other documents filed with the SEC by Comcast or Time Warner Cable through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Comcast are available free of charge on Comcast’s website at http://cmcsa.com or by contacting Comcast’s Investor Relations Department at 866-281-2100. Copies of the documents filed with the SEC by Time Warner Cable will be available free of charge on Time Warner Cable’s website at http://ir.timewarnercable.com or by contacting Time Warner Cable’s Investor Relations Department at 877-446-3689.
Comcast, Time Warner Cable, their respective directors and certain of their respective executive officers may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information about the directors and executive officers of Time Warner Cable is set forth in its Annual Report on Form 10-K for the year ended December 31, 2013, which was filed with the SEC on February 18, 2014, its proxy statement for its 2013 annual meeting of stockholders, which was filed with the SEC on April 4, 2013, and its Current Reports on Form 8-K filed with the SEC on April 30, 2013, July 29, 2013 and December 6, 2013. Information about the directors and executive officers of Comcast is set forth in its Annual Report on Form 10-K for the year ended December 31, 2013, which was filed with the SEC on February 12, 2014, its proxy statement for its 2013 annual meeting of stockholders, which was filed with the SEC on April 5, 2013, and its Current Reports on Form 8-K filed with the SEC on July 24, 2013, August 16, 2013 and February 14, 2014. These documents can be obtained free of charge from the sources indicated above. Additional information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, are contained in the preliminary joint proxy statement/prospectus filed with the SEC and will be contained in the definitive joint proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available.
Cautionary Statement Regarding Forward-Looking Statements Certain statements in this communication regarding the proposed acquisition of Time Warner Cable by Comcast, including any statements regarding the expected timetable for completing the transaction, benefits and synergies of the transaction, future opportunities for the combined company and products, and any other statements regarding Comcast’s and Time Warner Cable’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts are "forward-looking" statements made within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are often, but not always, made through the use of words or phrases such as "may", "believe," "anticipate," "could", "should," "intend," "plan," "will," "expect(s)," "estimate(s)," "project(s)," "forecast(s)", "positioned," "strategy," "outlook" and similar expressions. All such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed in the statements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: the timing to consummate the proposed transaction; the risk that a condition to closing of the proposed transaction may not be satisfied; the risk that a regulatory approval that may be required for the proposed transaction is not obtained or is obtained subject to conditions that are not anticipated; Comcast’s ability to achieve the synergies and value creation contemplated by the proposed transaction; Comcast’s ability to promptly, efficiently and effectively integrate Time Warner Cable’s operations into those of Comcast; and the diversion of management time on transaction-related issues. Additional information concerning these and other factors can be found in Comcast’s and Time Warner Cable’s respective filings with the SEC, including Comcast’s and Time Warner Cable’s most recent Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Comcast and Time Warner Cable assume no obligation to update any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.